Ken McCarthy

TruMark has begun the search for its next chief executive after Rick Stipa, who led the credit union for more than 20 years, announced he'll step down.

The combination of the Bay Area credit unions creates an institution with nearly 50,000 members.

The coronavirus and economic impediments have made it hard for credit unions to add members in recent years. Yet efforts to adapt to less face-time with customers, rev up auto lending and refine other aspects of their businesses are starting to pay off.

There's a lot of pent-up consumer demand for new cars, but credit unions face stiff competition from large banks and online dealerships. Some are stepping up marketing while others are eyeing new loan categories.

The Community Bankers Association of Illinois has proposed legislation to discourage credit union-bank mergers by imposing a fee that credit unions would have to pay when they purchase banks. Six Illinois community banks have been sold to credit unions since 2019.

Premier Bank is appealing the Nebraska Department of Banking and Finance's decision to block its sale to GreenState Credit Union.

The economic and political conditions are in place for bank-credit union mergers to blow past last year's total of 13 despite the banking industry's strong opposition to them.

Brian Knight of the National Association of State Credit Union Supervisors will prioritize collaboration with the National Credit Union Administration in his efforts to help state-chartered institutions stay competitive with federally chartered credit unions as well as community banks and fintechs.

Some community banks and credit unions worry that by hiring out-of-state workers to fill their many job openings, as other employers have done, they could erode community ties.

The National Credit Union Administration approved four new credit unions in 2021 — the most in six years — after revamping the application process.

Pomona Postal Federal Credit Union, which the National Credit Union Administration placed into conservatorship in November, has merged with the Credit Union of Southern California.

Branches across the country have closed temporarily, or switched to drive-thru service, as infections and quarantine rules have forced many bank workers to stay home.

Barry Nelson will step down as the president and CEO in April.

The credit union is looking for its next leader after longtime CEO Bill Lawton announced he will retire this summer.

The National Association of Federally-Insured Credit Unions' new campaign highlights $243 billion in fines slapped on Wall Street banks. The group says it's responding to political attacks, but the banking industry says NAFCU is trying to distract from criticism of its tax exemption.

Business and regulatory pressures were already weighing on aging executives before the onset of the pandemic led many to delay retirement plans. Now as the crisis eases, an increasing number are finally stepping down.

Charlie Watts was most recently chief financial officer for Colorado Credit Union, a role he held for the past eight years.

The commissioner of the Tennessee Department of Financial Institutions said Orion Federal Credit Union's deal for Financial Federal Bank violates the Tennessee Banking Act.

The new omicron strain is prompting more financial institutions to extend mask mandates in the workplace and remote work schedules.

As its first major gift, Truliant contributed to the Winston-Salem State University Foundation to support the Mathematics and Science Education Network program.